British Columbia Investment Management portfolio

What changed this quarter

682 positions with a change (9 new, 543 added to, 89 trimmed, 41 sold); also, 3 entered through an IPO, 3 exited through an acquisition or merger, 4 entered through a spin-off. 8 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Ishares Tr−98%fewer sharesReduced
  7.0% → 0.2%
• iShares Broad USD High Yield ETF−42%fewer sharesReduced
  4.9% → 3.1%
• Bunge Global−52%fewer sharesReduced
  3.5% → 1.5%
• NVIDIA−16%fewer sharesReduced
  4.2% → 4.3%
• State Street SPDR BB High Yield Bond ETF−0.7 ppof portfolioSold out
  0.7% → —
• Alphabet−23%fewer sharesReduced
  1.9% → 2.0%
• Royal Bank of Canada+18%more sharesIncreased
  2.3% → 3.7%
• Canadian Natural Resources+29%more sharesIncreased
  2.3% → 2.5%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA4.3%
• AppleAAPL4.0%
• Toronto Dominion BankTD4.0%
• Royal Bank of CanadaRY3.7%
• AlphabetGOOGL · GOOG3.5%
• iShares Broad USD High Yield ETFUSHY3.1%
• Canadian Natural ResourcesCNQ2.5%
• MicrosoftMSFT2.5%
• Amazon.comAMZN2.2%
• BroadcomAVGO1.6%
• ShopifySHOP1.5%
• TC EnergyTRP1.5%
• Bunge GlobalBG1.5%
• Bank of MontrealBMO1.4%
• Micron TechnologyMU1.2%
• EnbridgeENB1.2%
• Meta PlatformsMETA1.2%
• TeslaTSLA1.1%
• Canadian Imperial Bank of CommerceCM1.1%
• Barrick MiningB1.0%
• Manulife FinancialMFC1.0%
• BrookfieldBN0.9%
• Bank of Nova ScotiaBNS0.9%
• Eli LillyLLY0.9%
• Advanced Micro DevicesAMD0.9%
• Agnico Eagle MinesAEM0.9%
• JPMorgan ChaseJPM0.8%
• Canadian Pacific Kansas CityCP0.7%
• Suncor EnergySU0.7%
• RayonierRYN0.7%
• Berkshire HathawayBRK/B0.7%
• IntelINTC0.6%
• Johnson & JohnsonJNJ0.6%
• VisaV0.5%
• Applied MaterialsAMAT0.5%
• Canadian National RailwayCNI0.5%
• Exxon MobilXOM0.5%
• Franco NevadaFNV0.5%
• Waste ConnectionsWCN0.5%
• Lam ResearchLRCX0.5%
• Algonquin Power & UtilitiesAQN0.5%
• Pembina PipelinePBA0.5%
• Wheaton Precious MetalsWPM0.5%
• CamecoCCJ0.5%
• WalmartWMT0.5%
• CaterpillarCAT0.5%
• Cisco SystemsCSCO0.4%
• NutrienNTR0.4%
• CelesticaCLS0.4%
• AbbVieABBV0.4%
• MastercardMA0.4%
• Cenovus EnergyCVE0.4%
• Costco WholesaleCOST0.4%
• KLAKLAC0.4%
• GE AerospaceGE0.4%
• Bank of AmericaBAC0.4%
• UnitedHealth GroupUNH0.4%
• Sun Life FinancialSLF0.4%
• Home DepotHD0.3%
• Procter & GamblePG0.3%
• MerckMRK0.3%
• GE VernovaGEV0.3%
• Coca-ColaKO0.3%
• ChevronCVX0.3%
• NetflixNFLX0.3%
• Goldman Sachs GroupGS0.3%
• Philip Morris InternationalPM0.3%
• Palo Alto NetworksPANW0.3%
• Texas InstrumentsTXN0.3%
• International Business MachinesIBM0.2%
• Brookfield Infrastructure PartnersBIP0.2%
• TECK ResourcesTECK0.2%
• RTXRTX0.2%
• Palantir TechnologiesPLTR0.2%
• Marvell TechnologyMRVL0.2%
• Wells FargoWFC0.2%
• OracleORCL0.2%
• Morgan StanleyMS0.2%
• RB GlobalRBA0.2%
• LindeLIN0.2%
• CitigroupC0.2%
• FortisFTS0.2%
• Kinross GoldKGC0.2%
• Brookfield Asset ManagementBAM0.2%
• Western DigitalWDC0.2%
• AmphenolAPH0.2%
• Seagate Technology HoldingsSTX0.2%
• Restaurant Brands InternationalQSR0.2%
• CorningGLW0.2%
• QualcommQCOM0.2%
• AmgenAMGN0.2%
• Analog DevicesADI0.2%
• McDONALD’SMCD0.2%
• CrowdStrike HoldingsCRWD0.2%
• Thermo Fisher ScientificTMO0.2%
• PepsicoPEP0.2%
• Nextera EnergyNEE0.2%
• Arista NetworksANET0.2%
• American ExpressAXP0.2%